My mother sold her mineral rights she owned this past year - Brazos County Texas
I understand this is taxed as a long term capital gain.
I assume she is considered owner after my dad died in 2005. But, we do not know what the value was when she took possession.

How or whom can we contact to try and get this info?

Thanks!!

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Posted by chillygentilly

70122

Member since Aug 2012

2568 posts

Posted on 4/4/16 at 7:55 pm to highpockets

Were they producing when your mother inherited them? If so, how did your dad acquire them?

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Posted by highpockets

Lafayette

Member since Feb 2015

1894 posts

Posted on 4/4/16 at 8:12 pm to chillygentilly

been in the family for years,my dad inherited from his father. My mom has gotten a few nice checks in the last few years. Dad never as much.

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Posted by KillTheGophers

Member since Jan 2016

6209 posts

Posted on 4/4/16 at 9:53 pm to highpockets

Just asking - is this part of a royalty trust? If so, you may be in luck. The operator of the assets and the investment group will have detailed records.

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Posted by CajunTiger92

Member since Dec 2007

2820 posts

Posted on 4/5/16 at 12:11 am to highpockets

Were the mineral rights inventoried and valued in your dad's succession? If so, it seems that is the first place to start if trying to determine a value for capital gains purposes.

This post was edited on 4/5/16 at 12:11 am

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Posted by highpockets

Lafayette

Member since Feb 2015

1894 posts

Posted on 4/5/16 at 7:30 am to CajunTiger92

quote:
Were the mineral rights inventoried and valued in your dad's succession? If so, it seems that is the first place to start if trying to determine a value for capital gains purposes

I do not think so, but I will double check.

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